EME vs VXX: Correlation
How closely do Emcor (EME) and iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX) trade together? Their weekly returns over three years give a correlation of -0.46, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are EME and VXX?
On 3 years of weekly data the EME/VXX correlation comes out at -0.46, negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at -0.27 versus -0.46 over 3 years. The 5-year figure is -0.45, and annualized covariance runs at -970.0 %².
Among the 34 assets we track against EME, VXX sits near the bottom by co-movement, at rank #33. Correlation aside, the last 12 months split them widely, with EME ahead by 74.2 points (+24.5% versus -49.7%). Note the risk asymmetry: VXX runs 1.7 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
How is this computed?
Pearson correlation on weekly returns: ρ(A,B) = cov(rA, rB) / (σA · σB), over windows of 52, 156 and 260 weeks. Covariance is annualized (×52) and expressed in %². Full definitions on the methodology page.
EME vs VXX: side by side
| EME (Emcor) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +24.5% | -49.7% |
| 5-year return | +540.3% | -95.6% |
| Volatility (ann.) | 34.9% | 60.9% |
| Beta vs S&P 500 | 1.31 | -3.31 |
| Max drawdown (3Y) | -36.2% | -83.3% |
| Market cap | $34.2B | – |
| P/E (trailing) | 23.8 | – |
| Dividend yield | 0.09% | 0.00% |
| Sector / category | Industrials | US Listed |
Year-by-year returns
| Year | EME | VXX |
|---|---|---|
| 2022 | +16.8% | -23.8% |
| 2023 | +46.0% | -72.5% |
| 2024 | +111.3% | -26.2% |
| 2025 | +35.1% | -42.2% |
| 2026 | +26.9% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EME and VXX good diversifiers for each other?
By historical standards, yes. A correlation of -0.46 means the two rarely move for the same reasons.
FAQ
What is the correlation between EME and VXX?
Using weekly returns as of 2026-08-27: -0.46 over 3 years, with -0.27 over the last year and -0.45 over 5 years.
Is VXX a good diversifier for EME?
By historical standards, yes. A correlation of -0.46 means the two rarely move for the same reasons.
What does a correlation of -0.46 mean?
On the −1 to +1 scale, -0.46 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/eme-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/eme-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: EME correlations · VXX correlations
